Spot Bitcoin ETFs Notch $355 Million In Net Inflows, Snapping 7-Day Losing Streak ⋆ ZyCrypto

NYDIG Predicts Spot Bitcoin ETFs Could Unlock $30 Billion In Fresh Demand

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U.S. spot Bitcoin exchange-traded funds recorded $355 million in net inflows Tuesday, breaking a brutal seven-day stretch that saw investors yank $1.12 billion from the products.

The healthy inflows highlight the market’s returning optimism even as spot prices remained under pressure.

BTC ETFs Snap Out Of Outflow Funk

The major contributors to Tuesday’s rebound were BlackRock’s iShares Bitcoin Trust (IBIT) with $143.8 million net inflow and Ark & 21Shares’ ARKB with $109.6 million. Fidelity’s Wise Origin Bitcoin Fund (FBTC) followed with $78.6 million, according to aggregated data from SoSoValue.

Bitwise’s Bitcoin ETF BITB attracted $13.87 million, while other issuers, including Grayscale and VanEck, also posted gains, though smaller.

The reprieve came after spot Bitcoin funds bled $1.12 billion during the previous seven trading days. The worst redemption happened on Friday, when the ETFs hemorrhaged $276 million. It’s worth mentioning that December has been dominated by outflows, with spot BTC ETFs losing $744 million collectively as investors moved into the Christmas break with reduced liquidity and a weaker risk appetite.

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The fresh inflows hint at renewed institutional appetite even as Bitcoin, down 29.9% from October’s $126,000 peak, trades at $88,039, a 0.6% drop in the past 24 hours, according to CoinGecko data.

Other Crypto ETFs Also Reverse Outflow Trend

Spot Ethereum ETFs followed a similar trajectory to the BTC funds, recording $12.5 million in net inflows on Tuesday after four days of exits. ETH is trading around $2,987, down 0.2% in the past 24 hours, CoinGecko data shows.

The recently launched spot XRP and Solana ETFs all reported positive flows for the day. XRP funds, specifically, extended their inflow streak to 30 straight days, pulling in another $15 million on Tuesday. These products recently exceeded the $1 billion inflows milestone in under a month, which could indicate substantial acceptance and liquidity for the Ripple-affiliated asset within traditional finance markets.



Source: https://zycrypto.com/spot-bitcoin-etfs-notch-355-million-in-net-inflows-snapping-7-day-losing-streak/